LXi REIT plc LON:LXI), the specialist inflation-protected very long income REIT, has today declared an interim quarterly dividend in respect of the quarter ended 31 March 2020 of 1.4375 pence per ordinary share, payable on 17 July 2020 to shareholders on the register at 26 June 2020. The ex-dividend date will be 25 June 2020.
The dividend will be paid as a Property Income Distribution in respect of the Company’s tax exempt property rental business.
Following the payment of this dividend, the Company will have paid, in aggregate, 5.75 pence per ordinary share in dividends in respect of the year ended 31 March 2020, in line with its target for the year.
Forward looking dividend guidance
The Board confirms that it expects to approve the payment of the Company’s first quarterly dividend for the financial year ending 31 March 2021 at the rate of 1.30 pence per share*. This dividend is in respect of the quarter ending 30 June 2020 and is scheduled to be declared and paid in September 2020.
The Board believes this is an appropriate level for the period which it expects to be covered by the rents collected for the quarter ending 30 June 2020 (i.e. the March 2020 in advance rents).
LXi REIT will continue to monitor the improving visibility on its future rent collection as the UK moves out of lockdown and is keeping its dividend guidance under careful review on a quarterly basis.
The Company will continue to provide updates to its shareholders on material developments.
